Aggregated News From Investment Management Regulators

CSRC Spokesman Commented on Ant Group’s Plan to Refund Investors’ A-share Subscription Funds

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Reporters: Ant Group and its lead underwriters have announced their plan to refund subscription funds for Ant’s IPO on A-share market. What’s the CSRC’s comments on this matter?

The CSRC’s spokesman: The Shanghai Stock Exchange (SSE) has suspended the listing of Ant Group on the STAR Market according to relevant regulations for the registration-based IPO regime. The Ant Group and its lead underwriters have therefore reached consensus to refund IPO subscription funds to all online, offline and strategic investors, with a process starting from Friday, November 6, 2020.

The CSRC recognizes the above arrangement that is in the interest of investors and in line with applicable laws and regulations. The CSRC will demand and provide necessary guidance for the SSE, the China Securities Depository and Clearing Corporation(CSDC) and other market entities involved to carry out the refunding process in a smooth and orderly manner, pursuant to the principles of transparency, equality and fairness.

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Regulator Information

Abbreviation: CSRC
Jurisdiction: China

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